Huntington Bancshares Incorporated (NASDAQ:HBAN) Declares $0.16 Quarterly Dividend

Huntington Bancshares Incorporated (NASDAQ:HBAN) declared a quarterly dividend on Friday, January 17th,RTT News reports. Stockholders of record on Tuesday, March 18th will be given a dividend of 0.155 per share by the bank on Tuesday, April 1st. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.64%.

Huntington Bancshares has increased its dividend payment by an average of 0.8% per year over the last three years. Huntington Bancshares has a payout ratio of 39.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Huntington Bancshares to earn $1.36 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 45.6%.

Huntington Bancshares Stock Up 1.0 %

Shares of HBAN opened at $17.01 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $17.06 and a two-hundred day moving average price of $15.47. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 1.07. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Friday, January 17th. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Equities analysts predict that Huntington Bancshares will post 1.22 EPS for the current fiscal year.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HBAN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 target price (up previously from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Evercore ISI lifted their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of Huntington Bancshares in a report on Monday, December 23rd. Truist Financial began coverage on Huntington Bancshares in a research note on Tuesday, January 7th. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, The Goldman Sachs Group raised their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.76.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.